Alcatel-Lucent completes Genesys sale

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Alcatel-Lucent has sold customer service software arm Genesys to private equity for $1.5bn

Alcatel-Lucent has completed the divestment of its Genesys business, which specialises in customer service software, to private equity investors for $1.5 billion.
The new owner is an entity controlled by Permira Funds and Technology Crossover Ventures. The transaction, announced in October 2011, received the required regulatory approvals from US and French authorities.
Genesys, which provides customer service software and contact centre solutions for enterprises, had reported sales of around $500 million in 2010. Under the deal, the unit’s 1,800 employees, its management team and its existing business structure will be transferred to the new owner to ensure seamless continuity with customers and other stakeholders, Alcatel-Lucent said in a statement. GTB

Further reading from Global Telecoms Business: 
Alcatel-Lucent sells Genesys for $1.5bn 20 Oct 2011
Permira 'may buy' Alcatel-Lucent's Genesys 05 Sep 2011 
Interview: Ben Verwaayen of Alcatel-Lucent 01 Jan 2009